a. BCH has broken down the trend line. b. It is trading between the scenarios 1 & 2. c. After a bearish gartley formation, price has retraced to .618 level ($1800). Together with the former resistance (1780), this makes for a relatively safe starting point to look for possible gains. d. MFI suggests severe oversold condition. Some technical rebound is imminent. The strength of this rebound is likely to be low.
However, selling pressure is high on this one.
Komen
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BCH may have fallen out of an ascending wedge on the 1m chart moments ago. I closed my long position but still hold my coins.
If it starts to retrace, I think $2140 is where consolidation can be had.
Or if I'm wrong at least we're holding :)
Komen
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Another BTC dump :D Last night did hold at $2140 circa & jumped, but bch suffered from the btc dump. I think once the coast is clear further gains can be expected. $2700 in one go (but need to wait till the dump is over).
Don't sell your holdings now
Komen
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Wonderful, we really got to $2700 quickly.
Now, I think after some consolidation $4000 is possible this year. Why? that'd be 0.2 BTC, which is where BCH had always been before the BTC jump last month.
market cap has gone up 100 bill in about a week from memory, i think they've got to do much more than this to get crypto where they want it; i think the market cap will be a trillion very soon!!!!!
Doc-al-Citadel
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some people less optimistic ;-)
DrJLT
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@qdoc, no, I think 16k max. but it's perhaps not over yet.
DrJLT
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@DrJLT, Normally it drops for a couple of days. I think the end of BTC drop has passed.
Unfortunately, I didn't close my long positions on BCH last night.
Doc-al-Citadel
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@DrJLT, yes well i used to mr cashening. I think this was bch's only chance for that. Sometimes bitcoins in sync sometimes not. But hashpower not flipping. Keep an eye on hard fork(s) for bitcoin btc next week something has to go up. I don't think these dips will last more than 24-48 hrs imho. Market cap total 600 bill needs to be 700 in a week or so I think so get ready for some pumping!!!
DrJLT
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@qdoc, True. But if I had closed @70+% gain on my positions :) would get a bottle of cognac. Now I don't want to look at the %.
Really didn't expect BTC dump to implicate BCH. As you say, sometimes it does, sometimes it doesn't. I have 0.002 BTC so no care on that one.